The cost of revenue collection by key revenue-generating agencies of the Federal Government rose by N108.98bn between 2019 and 2021.
Specifically, data from the National Bureau of Statistics revealed that the Nigerian Customs Service, Federal Inland Revenue Service, and Department of Petroleum Resources received an aggregate of N220.39bn as cost of collections in 2019.
However, according to the latest reports released by the NBS on monthly Federal Account Allocation Committee Disbursements, the cost of collections by these revenue-generating agencies rose to N329.37bn in 2021.
The difference in the collection cost recorded within the three-year period indicates a 49.4 per cent increase.